Applying For A Loan

Do you want to finance a home?

When purchasing a home, the loan application is troublesome for a lot of people, but it doesn’t have to be. I have close professional relationships with a lot of lenders in Irvine, and they’ve helped me understand a few things that make the process of applying for a loan uncomplicated.

1 – Compile a list of questions regarding your loan program

Be sure you have a list of questions with you if you do not completely comprehend the pros and cons of all the various programs. One of my trusted lenders or I will be able to assist you in understanding the advantages and disadvantages of each one, because it is hard to know the differences between fixed and adjustable rate mortgages.

2 – Decide when to lock

When you lock in an interest rate, the mortgage lender is sure to hold to the interest rates for the loan – often at the time the loan application is submitted. By floating the rate, you can lock the rate at any time between the day of your loan application and issuance of closing documents. Those who elect to float think that interest rates will plunge in the near future. Click here to see the outlook for the next 90 days of interest rates.

If you opt to pay additional points to lower the rate of your mortgage loan, you will do so by paying for them in cash at closing. Each point is 1 percent of the loan. Click here to use my points calculator. It will help you decide if buying points is the best option for you.

4 – Bring your paperwork

Getting a loan requires lots of paperwork, so you should spend some time getting your documents together. Click here to see normal questions you’ll have to answer on a loan app.

As your Buyer's Agent, I can help you find the perfect house for you, and as your Listing Agent, I'll get top dollar for your property. Call me, Irvine's real estate expert, at (714) 856-7003. I can help you make the decision that gets the outcome you want.